1. Main funds appear to be withdrawing, the contract market lacks sustained support, down 6.97% over 24 hours, with bears clearly in control and the downtrend is very evident.
2. The 1-hour MACD (9,26) has been moving downward after forming a death cross, bearish momentum is increasing, and the short-term weakening trend is clear.
3. RSI(14) is around 40, which is a bearish zone, and shows signs of further decline. Bulls have little support, and there are currently no signs of a rebound.
4. Price has broken below key moving average support, and trading volume has increased during the decline, indicating the downtrend can continue and it’s not just a short-term fluctuation.
Support Levels:
1. $90000.0 (Key recent psychological support level)
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$BTC Current Price: $92257.4
Direction: Bearish
Reasons:
1. Main funds appear to be withdrawing, the contract market lacks sustained support, down 6.97% over 24 hours, with bears clearly in control and the downtrend is very evident.
2. The 1-hour MACD (9,26) has been moving downward after forming a death cross, bearish momentum is increasing, and the short-term weakening trend is clear.
3. RSI(14) is around 40, which is a bearish zone, and shows signs of further decline. Bulls have little support, and there are currently no signs of a rebound.
4. Price has broken below key moving average support, and trading volume has increased during the decline, indicating the downtrend can continue and it’s not just a short-term fluctuation.
Support Levels:
1. $90000.0 (Key recent psychological support level)
2. $88500.0 (Near previous consolidation low)
Resistance Levels:
1. $94500.0 (24-hour rebound high)
2. $96000.0 (Recent consolidation resistance level)
Suggested Take Profit: $90000.0, Stop Loss: $94500.0